ROCKVILLE, Md., July 22, 2010 (GLOBE NEWSWIRE) -- Telvent (Nasdaq:TLVT), the IT company for a sustainable and secure world, announced today that PetroChina Company Limited (PetroChina) has contracted Telvent to supply monitoring and control systems to extend its growing hydrocarbon pipeline network. Telvent's OASyS information management infrastructure, already in use in the PetroChina pipeline network, will be added to three lateral pipelines where it will play a vital role in sustaining PetroChina's safe and secure transport of crude oil and natural gas to growing Chinese markets.
Under the three new contracts, together valued at more than $3 million (U.S. dollars), Telvent supervisory control and data acquisition (SCADA) technology will be installed for the Hui-Yin crude oil pipeline in northern China, the Qin-Shen natural gas pipeline in the northern part of the country as well, and the Mo-Da crude oil pipeline, which links the Russian border with Daqing in northeast China. Together these new pipeline segments will extend the existing PetroChina energy pipeline network by more than 1,600 kilometers.
The Telvent control and information management systems for these extensions will provide control and monitoring in real-time and integrate operations with the network's main control center. Secure and efficient management of the growing PetroChina pipeline network will be supported long term by Telvent's China-based energy team and will assure long-term and sustainable operations for PetroChina.
According to Telvent's chief executive officer, Ignacio Gonzalez-Dominguez, "These new projects underline the value to both Telvent and PetroChina of the long term and successful partnership we have had. Telvent oil and gas solutions are well established in China and will once again be leveraged to meet the needs of our most important customer in the region."
The new contracts reinforce Telvent's leadership position in helping China respond to its growing energy demand. Other recent projects awarded to the company in China include the new Sichuan-East Gas pipeline extension for Sinopec, the second largest oil and gas operator in China; the GD-LNG Terminal and Trunkline project for the Guangdong Dapeng LNG Company Ltd.; and the Qing-Tie Oil Pipeline project managed by PetroChina.
About Telvent
Telvent (Nasdaq:TLVT) is a global IT solutions and business information services provider dedicated to helping improve efficiency and reliability for the world's leading companies. Telvent serves markets that are critical to the sustainability of the planet, including the energy, transportation, agriculture and environmental sectors. (www.telvent.com)
The Telvent GIT S.A. logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=6852
About PetroChina Company Limited
PetroChina is the largest oil and gas producer and distributor in China and one of the world's largest oil companies. It is engaged in a wide range of activities related to oil and natural gas, including development and production, transportation, refining, and production and marketing of petrochemical products and derivatives.